General Question

Harper123's avatar

How is it decided what your medicare payment will be each month?

Asked by Harper123 (9points) August 4th, 2022

I will be on medicare in a few months but have not signed up yet. All I can afford is the standard $170 that SS takes out. That’s what my neighbors pay also. How is that decided and if I sell the house and have more money in the bank will the medicare payment go up?
All I can afford is the standard part A and part B but if the house sells I could potentially add more services.

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5 Answers

elbanditoroso's avatar

Medicare fee is based on income, not your savings account. So it won’t matter if you sell the house.

If you continue to work after getting madicare and your income is greater that $100,000 (may be higher, I don’t remember) then they tack an additional charge – called IRMAA – to your monthly medicare because you’re making more money.

One thing – Don’t forget part D (prescriptions) in your budgeting.

janbb's avatar

Whether you pay the additional charge because your income is higher or not, the services provided by Medicare are the same. If you have an IRMAA, additional charge, it is calcaculated based on your income from two years previously and as @elbanditoroso says, not based on savings.

If you can afford it and want additional coverage to cover deductibles or additional medical fees not covered by your Medicare, you can get a Medicare supplemental policy from a private carrier. That provides secondary coverage – Medicare is billed first.

Your best bet will be to make an appointment with your local SS office and talk to them. I’ve found them to be very helpful if you can get in.

Harper123's avatar

We live on a farm and don’t even file a income tax so we don’t make much put we are planning on selling the farm soon so i didn’t know how that would affect medicare. Does medicare cover things like dermatology and dental or would that be on supplemental policy? Can I just call say like a chiropractor and ask if they take medicare?

janbb's avatar

Dermatology yes, dental no. My supplemental doesn’t have dental either but I pay $100/year for a discount dental plan. And yes, you would call the provider and ask if they take Medicare. But I don’t know how the not filing income tax would affect your getting Medicare. You would have to ask them about that.

You might get some good answers at

Strauss's avatar

@janbb has it right. Check out the website. I’ve been on Medicare for a few years now. There are many types of plans available. The one that best suits my needs is a Medicare Advantage program. Most plans of this type also have dental and vision plans available for with moderate copays.

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